The demand for simple and direct payment methods is growing, and from a consumer perspective, the time when it was acceptable for a bank transfer to take a couple of banking days is irrevocably over. Today, transfers are expected to take place immediately when they are initiated so that the amount can be used on the recipient side directly. This applies to both smaller payments and more significant transactions. Development that facilitates scalability and entry into new markets is vital in the current expansive phase of SaveLend Group – and the integration of Trustly contributes with just that. In addition to enabling direct bank payments for all deposits on the investment platform, both in Sweden and in other markets, the payment service also contributes to a simplified process when entering new markets as Trustly supports euro and several other currencies.
"SaveLend is a true challenger in the financial services industry that focuses on bringing an easy-to-use service to their customers. In offering Trustly's Online Banking Payments, SaveLend makes it easy for customers to fund their account instantly from their bank without any fuss. We're excited to support SaveLend achieve their vision of economic freedom for everyone", says Luca G. Giannone, Sales Director, Financial Services Trustly.
The integration of Trustly shortens the lead time between when the deposit is made and the capital is received on the investment platform. It will still be possible to use the regular bank transfer on SaveLend.se, for investors who prefer it, but offering direct deposits means that new investors can start their account, make their deposit, and receive the money in their account on the investment platform right away. This is expected to lower the barrier to completing the account set-up and lead to a higher proportion of activated accounts.